Quarterly history
AUM ($B)fundS&P 500(gap = α)/ Flow in/out
Behavior signals (lifetime)
Dip response
+3.42%
adds when stocks drop
when a holding falls −10%+
Middle response
-0.52%
baseline attrition
Rally response
-4.03%
trims into rallies
when a holding rises +10%+
Top positions · 30
| Ticker | $ value | % port | YoY | Hold time |
|---|---|---|---|---|
| IVViShares Core S&P 500 ETF | $46M | 14.0% | — | 7.3 yr |
| AINVApollo Investment Corpor | $21M | 6.4% | — | 1.8 yr |
| OBDCBlue Owl Capital Corpora | $16M | 4.8% | -17.8% | 4.3 yr |
| IEFAiShares Core MSCI EAFE E | $14M | 4.4% | — | 7.3 yr |
| QQQInvesco QQQ Trust, Serie | $12M | 3.5% | — | 7.3 yr |
| TCPCBlackRock TCP Capital Co | $11M | 3.3% | -46.4% | 4.5 yr |
| IEMGiShares Core MSCI Emergi | $11M | 3.2% | — | 7.3 yr |
| VTIVanguard Total Stock Mar | $10M | 3.0% | — | 7.3 yr |
| METAMeta Platforms, Inc. | $9M | 2.8% | -0.4% | 7.3 yr |
| IWFiShares Russell 1000 Gro | $9M | 2.8% | — | 6.5 yr |
| AMZNAmazon.com, Inc. | $9M | 2.7% | +9.5% | 7.3 yr |
| IVWiShares S&P 500 Growth E | $8M | 2.3% | — | 7.3 yr |
| GBDCGolub Capital BDC, Inc. | $7M | 2.2% | -6.8% | 7.3 yr |
| AAPLApple Inc. | $7M | 2.0% | +14.7% | 7.0 yr |
| IJHiShares Core S&P Mid-Cap | $6M | 1.9% | — | 7.3 yr |
Portfolio composition (YoY)
Industry mix
Asset Management74.9%+6.2pp$247M
Financial - Credit Services4.9%+4.5pp$16M
Internet Content & Information4.1%-1.2pp$14M
Specialty Retail2.7%-0.9pp$9M
Consumer Electronics2.0%-2.5pp$7M
Semiconductors1.5%+0.6pp$5M
Insurance - Diversified1.2%-1.4pp$4M
Drug Manufacturers - General1.0%-0.1pp$3M
Software - Infrastructure1.0%+0.0pp$3M
Financial - Capital Markets0.9%+0.0pp$3M
Country
US99.5%+0.2pp
CA0.2%-0.1pp
LU0.1%-0.1pp
Unknown0.1%+0.0pp
IT0.1%-0.0pp
Top 5: 33.0% · Top 10: 48.2% · Top 25: 72.9%
Top buys this quarter · 15
| OBDC Blue Owl Capital Corporation | +$13M |
| GBDC Golub Capital BDC, Inc. | +$4M |
| KKR KKR & Co. Inc. | +$3M |
| APO Apollo Global Management, Inc. | +$2M |
| BX Blackstone Inc. | +$2M |
| CRM Salesforce, Inc. | +$2M |
| TCPC BlackRock TCP Capital Corp. | +$11M |
| TPG TPG Inc.new | +$1M |
| MSFT Microsoft Corporation | +$1M |
| SPY State Street SPDR S&P 500 ETF | +$0M |
Top sells this quarter · 15
| TFX Teleflex Incorporatedexit | −$1M |
| CSGS CSG Systems International, Incexit | −$1M |
| PM Philip Morris International In | −$1M |
| AMZN Amazon.com, Inc. | −$1M |
| MRK Merck & Co., Inc. | −$0M |
| AAPL Apple Inc. | −$0M |
| HD The Home Depot, Inc. | −$0M |
| NVDA NVIDIA Corporation | −$0M |
| RYAM Rayonier Advanced Materials In | −$0M |
| MA Mastercard Incorporated | −$0M |
Quarterly history (TTM returns)
| Period | AUM | # Pos | Return (1yr) | SPY (1yr) | Alpha (1yr) | Flow |
|---|---|---|---|---|---|---|
| 2026-03-31 | $330M | 134 | +2.69% | +17.59% | -14.90% | +0.05B |
| 2025-12-31 | $312M | 136 | +9.98% | +17.72% | -7.74% | +0.01B |
| 2025-09-30 | $300M | 139 | +16.05% | +17.52% | -1.46% | +0.02B |
| 2025-06-30 | $271M | 137 | +16.97% | +14.94% | +2.03% | +0.04B |
| 2025-03-31 | $208M | 118 | +11.90% | +8.30% | +3.60% | -0.02B |
| 2024-12-31 | $243M | 140 | +29.14% | +24.89% | +4.25% | -0.02B |
| 2024-09-30 | $245M | 136 | +38.16% | +36.04% | +2.13% | -0.01B |
| 2024-06-30 | $237M | 135 | +31.93% | +24.49% | +7.44% | -0.02B |
| 2024-03-31 | $246M | 144 | +41.22% | +29.62% | +11.60% | -0.01B |
| 2023-12-31 | $233M | 124 | +43.91% | +26.18% | +17.74% | -0.02B |
| 2023-09-30 | $221M | 114 | +28.44% | +21.57% | +6.87% | +0.00B |
| 2023-06-30 | $216M | 117 | +20.64% | +19.42% | +1.22% | -0.02B |
| 2023-03-31 | $207M | 127 | -9.27% | -7.82% | -1.45% | -0.00B |
| 2022-12-31 | $185M | 125 | -22.90% | -18.17% | -4.72% | +0.05B |
| 2022-09-30 | $132M | 112 | -15.53% | -15.51% | -0.02% | +0.00B |
| 2022-06-30 | $135M | 115 | -10.32% | -10.62% | +0.30% | +0.01B |